Another month, another BiTA member
With the help of blockchain technology, companies have the opportunity to transform their supply chain network, in terms of transparency and efficiency. However, in order to see the full benefits of the technology, they need to fully understand its use and what guidelines must be followed. This is something that the Blockchain in Transport Alliance (BiTA) can assist with. BiTA is regularly increasing the number of active members in the alliance. Around 400 companies have now joined the alliance to help develop and establish blockchain industry standards for the freight industry, since it was launched last year.
On Monday, it was revealed that Lotte Global Logistics, a South Korean logistics and shipping company, has joined the Blockchain in Transport Alliance (BiTA). The logistics provider offers a wide range of services worldwide – warehouse management, intermodal import and export terminal operations, parcel delivery and transporting freight via air, rail and truck. As a result, the alliance can create blockchain data standards for end-to-end supply chain operations with the help of the new member’s wealth of experience.
More information can be found here.
Major flooding halts Japanese Supply Chains
This week, the aftermath of the worst rainfall Japan has experienced in three decades took its toll. Businesses and transport infrastructures were brought to a standstill; this on top of numerous other tragedies residents have been experiencing as a result of the torrential rains. The rain storms have flooded factories and stores, left businesses and homes without power and water and disrupted supply chains. Moreover, parts of the national highway system have been closed, cutting off crucial transport and distribution routes and creating substantial production and consumption problems.
Some businesses had a continuity plan ready, in preparation for earthquakes, but did not factor in the impact of water damage from torrential rain. It is expected it will take months to recover from this disaster. Supply chain distributions have also hit other areas far from the main disaster zones, particularly automotive supply chain plants – for example Mitsubishi had to close their main plant in Kawasaki due to a parts shortage.
Click here for more details.
Sea container imports to reach record levels in July
Sea container imports at major container ports in the U.S. are expected to hit record levels this month, according to the Global Port Tracker report produced jointly by the National Retail Federation and Hackett Associates. The report evaluates and monitors key port data including container import volumes, gate operations and congestion.
Sea container imports have been increasing each month and July is projected to experience a 3.8% increase from the previous month. Strong consumer demand and retail sales have been driving the increase of sea container imports and counteracting the initial effect of the recent tariffs placed on Chinese imports. Trade tariffs will, ultimately, increase consumer good prices and potentially reduce the amount of imports. But at the moment, imports are expected to continue growing in the short term as altering global supply chains is no quick and easy task for retailers.
To read more about this, click here.
Have a great weekend!